Yvan Mispelaere has stepped down from his post at the company - who unveiled their spring/summer 2013 collection at New York Fashion Week two days ago - with immediate effect, and he paid tribute to Diane but insists he is ''eager'' to take on a new challenge.

He said in a company statement: ''I came to DVF to help further the brand's mission and create a world-class design team.

''I am confident that we have been able to achieve that during my time with the company. I can't thank Diane enough for the opportunity to work with her and such talented people. The group is now well-positioned for even greater success, and I am eager to take on my next challenge.''

Yvan will not be replaced at the company, with the design team expected to continue being directed by Diane, who admits the outgoing creative director has ''added enormous value'' to the organisation.

She said: ''I am so grateful for the contributions Yvan brought to DVF and fully support him as he takes the next step in his career.

''Yvan joined us almost three years ago and has added enormous value. He also put together a highly skilled design team to support our growth both in fashion and accessories. I am very thankful and proud of his accomplishments here and I look forward to our strong team continuing to create the signature DVF look for women everywhere.''

Yvan's departure comes shortly after Diane Von Furstenberg appointed former Tommy Hilfiger CEO and executive chairman, Joel Horowitz, as their new co-chairman.